AXA dented?
http://www.signonsandiego.com/news/b...b-rescue-.html
FRANKFURT – State prosecutors said they were monitoring IKB as the troubled lender continued to send shockwaves through Germany's banks after racking up billions in potential losses in risky U.S. subprime mortgages.
German commercial property financier Hypo Real Estate struggled to calm jittery investors by insisting it would be unaffected by the U.S. subprime fallout. Its shares still skidded more than 5 percent while Commerzbank – which owns a property financier – saw its stock fall 4 percent.
Investor confidence was further dented as it emerged that French insurer Axa had also temporarily closed two subprime funds after sudden losses.
German commercial property financier Hypo Real Estate struggled to calm jittery investors by insisting it would be unaffected by the U.S. subprime fallout. Its shares still skidded more than 5 percent while Commerzbank – which owns a property financier – saw its stock fall 4 percent.
Investor confidence was further dented as it emerged that French insurer Axa had also temporarily closed two subprime funds after sudden losses.
http://www.signonsandiego.com/news/b...b-rescue-.html
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